Chile’s Commercial Exchange has approved for a partial de-mutualization of assets. Touted as a pro-competition measure, the stock-echange regulator has also limited operators to a maximum 25% ownership of the total, hoping to strengthen competition and efficiency in the country’s financial capitals market.
The measures, however, were criticized by the country’s competition authority, the TDLC. The specialized competition court launched a Normative Recommendations filing one year ago in order to suggest improvements to the country’s stock exchanges in order to promote competition. The court rebuked the Commercial Exchange’s move by recommending that different stock exchanges be forcibly interconnected through binding, automatic mechanisms. The recommendation represents a setback for the Santiago Stock exchange, the country’s largest.
After the TDLC’s resolution, the Santiago Stock Exchange indicated that “ the tribunal’s proposed modifications to the rules will not be beneficial to the Chilean capital exchange market”. The organization elaborated, considering “the Executive’s recommendation to propose a legal change promoting obligatory interconnections between the exchanges will not be an incentive to greater competition, but rather promote greater concentration, as it goes against the current model for stock exchanges around the world.”
Full content: Economía y Negocios
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI